Discharge date is in 30!

[Himepudding]

Hi!

My discharge is officially 30 days away (02/15 is the estimated date on my bankruptcy paperwork)

I know the next step will be pruning my credit report for errors on my creditors side, should I pay for the reports or use my 1 freebie a year on this?

Did you apply for credit while you began to fix mistakes? I want to but I wonder if it could change the amount of my SL or even approval and denial!

[pizza1]

I would wait until you get your official DC from the courts first before doing anything. It usually takes an additional 30 days after your DC for your reports to reflect everything properly.

After that point, I would then pull your reports to make sure everything is correct....all accounts show $0 bal/IIB, and your BK in the PR section shows discharged and the date.

After it all looks good and correct, then I would check the Cap1 prequel site and see if you're offered anything....

[Himepudding]

I’m sorry I don’t mean applying *right now*, that question is intended to read as: when you are DC do you have to fix your reports before you apply OR is it best to apply while fixing the reports.

[FireMedic1]

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@Himepudding wrote:
I’m sorry I don’t mean applying *right now*, that question is intended to read as: when you are DC do you have to fix your reports before you apply OR is it best to apply while fixing the reports.

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There's usually nothing to "fix". You want to wait at least 30-60 days after DC to give time for all the creditors to update your accounts to say IIB zero balance. Then you may and i mean may get a score boost due to no more balances. Yes get your free reports then and go over them. Thats when you fix what wasn't updated correctly. Then you can go check the pre-qual Cap1 site like Pizza said. And the rebuild begins.

So many rush after the DC to get a card and dont want until everything has updated. Like I said some get a score boost. Nothing major but it may help with SL's and approvals. Good Luck!

[Himepudding]

This is the exact answer I was looking for, thank you!

So capital one is an ideal starter card? Would you still recommend a credit one for 11 months?

[customfinancemanager]

I wouldnt recommend Credit one.  Just Cap One to start and go to your local Credit Union and get a starter card ( you may have to guarantee with cash @ the CU at first but they will give you the normal account after 6-12 mos.). That way you deal with the lowest rate and fees while you reestablish. You also get set up the right way coming out of your BK.

Be carful of any cards that charge excessive fees upfront.. Credit one is one of them!

That just gets you into a bad cycle again... 

Hope that helps!

[Himepudding]

Do you think this something the credit unions will have on their website or would it be better to call and ask?

Thank you for the guidance!

[customfinancemanager]

Glad I can help!

You can do online... Always good to go into your local CU though... that way they get to know you. 

Once you reestablish through your CU... You will always have them as a great resourse as long as you pay them well. 

https://www.golden1.com/CreditCards/default

See Platinum secured as an example. 

Make it a great day!

Curt

[customfinancemanager]

Glad I can help!

You can do online... Always good to go into your local CU though... that way they get to know you. 

Once you reestablish through your CU... You will always have them as a great resourse as long as you pay them well. 

Make it a great day!

Curt

[customfinancemanager]

Glad I can help!

You can do online... Always good to go into your local CU though... that way they get to know you. 

Once you reestablish through your CU... You will always have them as a great resourse as long as you pay them well. 

Make it a great day!

Curt